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As of November 10, Argentine farmers have sold 34.1 million tons of 2020/21 soybeans

 Last Update: 2021-12-02
 Source: Internet
 Author: User

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Foreign media news on November 18: According to a report released by the Argentine Ministry of Agriculture , as of November 10, Argentine farmers have sold 34.
1 million tons of 2020/21 soybeans , an increase of 472,100 tons from a week ago, but compared to the same period last year.
It is 2.
9% lower
.

According to the Argentine Ministry of Agriculture, the pace of soybean sales lags behind the same period last year, when sales were 35.
1 million tons
.

The Buenos Aires Grain Exchange stated that the 2020/21 Argentine soybean production that was harvested in June was 43.
1 million tons, down from 49 million tons in 2019/20
.

In addition, farmers also pre-sold 3.
1 million tons of soybeans for the year of 2021/22, an increase of 200,000 tons from a week ago
.
Argentine farmers began planting soybeans for the 2021/22 season last month, and the exchange estimates that the output will reach 44 million tons
.

　　Despite high international prices, Argentine farmers are still reluctant to sell soybeans, using soybeans as a hard currency against the weakening of the peso
.
The Argentine peso exchange rate was 100.
30 pesos to 1 U.
S.
dollar, down 18.
5% from 84.
61 pesos to 1 U.
S.
dollar at the end of last year
.
As Argentine farmers get income from soybeans in pesos, the depreciation of the pesos means that it is more cost-effective to hold soybeans than to hold pesos
.

Department of Agriculture Soybeans

　　According to the Argentine Ministry of Agriculture, the pace of soybean sales lags behind the same period last year, when sales were 35.
1 million tons
.

　　The Buenos Aires Grain Exchange stated that the 2020/21 Argentine soybean production that was harvested in June was 43.
1 million tons, down from 49 million tons in 2019/20
.

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